Innovation in terms of new products or new sales channels is key for insurers to survive and even better to stand out in the industry. To keep pace, product owners and sales experts should be able to create and adjust insurance products and sales forms for all distribution channels or partners completely by themselves. This sounds easier than it is in reality as launching a new product or offering it through a new partner channel needs internal or external IT development, which is time-consuming and cost-intensive. Both of which are blocking new product launches.

sum.cumo Sapiens is an insurtech, building digital insurance solutions in the DACH market. Since 2020, sum.cumo Sapiens has been part of Sapiens International Corporation, an Israeli tech company with more than 600 clients worldwide in P&C, L&P and reinsurance. The company is a provider for digitizing business models in the insurance industry. With a mission to make insurance feel simple, it creates products that are inspired by e-commerce, bringing speed, self-sufficiency and stronger sales capabilities to insurance carriers.

sum.cumo Sapiens offers one-stop-shopping in a SaaS business model with its low-code, cloud-native platform SCIP Sales. Letting users create insurance products and design application forms independently. With this, it enables sales in all distribution channels and partners, including Embedded Insurance, without any need to code.

How does it work?

SCIP enables building products, creating sales journeys and selling the product online within a few minutes. Either on one’s own website or within the sales process of an (e-commerce) partner. Creating a product is based on a no-code solution without the need to involve the IT department. Sales forms are designed according to the requirements of the partner and are embedded into partner websites or portals just by copy and paste.

In the vision of sum.cumo Sapiens and thus also the philosophy behind SCIP, sales forms (or funnels) need to be as seamless as possible and integrated into the sales process of the insurer and possible partner as a white label. With SCIP Sales and its very simple configuration tools, business users can perfectly fit their products into any process. In addition, SCIP enables A/B test variations to move, test and adapt fast.

In the set-up of SCIP and its concept of product variants, it is possible to cut insurance products into smaller derivations, which are perfectly addressing different target groups and use cases. One example: A liability insurance offered on a student platform may need less cover and fewer questions – with SCIP users can design it as a variant and it’s done.

Thanks to flexible middleware and a comprehensive API layer, any policy administration system or other peripheral systems can be connected. With its core system SCIP Core in the back, users can easily upgrade to a fully-fledged, state-of-the-art insurance platform, which offers the full insurance contract lifecycle.

SCIP Sales offers all necessary functions for successful digital sales:

• Sell digitally & hybrid through any distribution channel, adapted to the channel’s specifics like branding, one-page application forms, additional attributes such as discounts, product specifics, etcetera.
• Configure products and product variants in a way that adjustments to the product can be made in the shortest possible time. After an initial setup of the web app, users can create application forms for configured products in just a few clicks.

Why did we invite sum.cumo Sapiens to present at DIA Munich 2022?

Expanding to new channels and markets offers a big chance for insurers, as they aim to reach additional market potential for an existing product. Organizational challenges have to be overcome, and it is often cost- and time-consuming.

By introducing SCIP, sum.cumo Sapiens launched an out-of-the-box- insurance platform that leverages the advantages of low-code, no-code. It can be connected to any core system so that it is easy to launch. Allowing companies to expand and leverage trends such as embedded insurance.

At DIA Munich 2022, Valentina Brebenaru, Chief Technology Officer at nexible and Lukas Wehrle, Unit Director at sum.cumo Sapiens will present SCIP Sales and share how it powers digital products at digital insurer nexible. They will how nexible can realise its international roadmap, supported by the multi-market capabilities of SCIP.  

Who is sum.cumo Sapiens?

In 2020 Sapiens International Corporation, a global provider of software solutions for the insurance industry, acquired sum.cumo, a German-based technology provider of disruptive, digital, innovative and consumer-centric solutions to the insurance sector.

The holistic digitalization of business models is day-to-day business for sum.cumo Sapiens.

Renowned companies in the insurance industry are offered efficient products and complete solutions from a single source. Thanks to many years of experience and many unique digital success projects, the company has in-depth knowledge of the customers’ and industry’s business models.

The platform is currently used by three insurance groups with activities in Austria, Germany and Switzerland. Clients include DELA, dextra, nexible, die Bayerische, simpego, freeyou

In 2020 the company employed 150 people.

“The market is looking for solutions that deliver a good customer experience combined with process efficiency. At best, these solutions can even be used in conjunction with old legacy core systems and other legacy applications.”

Ingolf Putzbach, CEO sum.cumo Sapiens.